BancFirst (NASDAQ:BANF) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

BancFirst (NASDAQ:BANF) issued its earnings results on Wednesday. The bank reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.03, Zacks reports. BancFirst had a return on equity of 13.44% and a net margin of 25.61%.

BancFirst Price Performance

NASDAQ BANF traded down $0.43 during trading hours on Wednesday, reaching $109.73. The company’s stock had a trading volume of 99,533 shares, compared to its average volume of 145,260. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 14.81 and a beta of 0.65. BancFirst has a 1-year low of $101.48 and a 1-year high of $122.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.03 and a quick ratio of 1.02. The company’s 50-day moving average is $109.86 and its two-hundred day moving average is $111.80.

BancFirst Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. This is a boost from BancFirst’s previous quarterly dividend of $0.49. BancFirst’s dividend payout ratio (DPR) is presently 28.07%.

Analysts Set New Price Targets

Several analysts have commented on BANF shares. Wall Street Zen upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research lowered shares of BancFirst from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings raised BancFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods lowered their target price on BancFirst from $123.00 to $121.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $123.00.

Insider Transactions at BancFirst

In other BancFirst news, Director David Rainbolt sold 81,492 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $116.71, for a total value of $9,510,931.32. Following the sale, the director directly owned 55,551 shares of the company’s stock, valued at approximately $6,483,357.21. This trade represents a 59.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 166,783 shares of company stock worth $19,366,509 in the last quarter. Corporate insiders own 31.67% of the company’s stock.

About BancFirst

BancFirst Corporation is a bank holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, BancFirst, the company provides a range of banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

BancFirst’s services include checking and savings accounts, consumer and commercial loans, real estate financing, treasury management, online and mobile banking, and other deposit and lending products. The company also offers trust and wealth-management services, including investment management, fiduciary services and retirement-related solutions.

BancFirst serves customers through a statewide network of banking locations and electronic banking channels, with a focus on communities throughout Oklahoma.